Islamabad (Web Desk): Prime Minister Shehbaz Sharif has announced a wide-ranging plan to curb government spending and conserve fuel, as Pakistan grapples with economic pressures caused by the ongoing conflict between the United States, Israel, and Iran, which has sharply disrupted global oil markets.
In a nationwide televised address, the prime minister highlighted the rising petroleum prices and the economic challenges facing Pakistan. He expressed concern over attacks on Saudi Arabia, United Arab Emirates, Qatar, and Bahrain, noting that global oil prices have jumped from around $60 to nearly $100 per barrel, affecting oil-importing nations like Pakistan.
Addressing the difficult decision to increase petroleum prices, PM Shehbaz said he was torn between economic necessity and concern for the poor, but emphasized that such measures were unavoidable to stabilize the economy. He also warned that global oil prices could rise further but pledged to take steps to reduce the burden on citizens.
To support the economy, the prime minister urged wealthy Pakistanis to contribute and announced a 50% cut in petrol allocations for all government vehicles for the next two months.
On national security, he noted persistent threats along Pakistan’s western borders, affirming that the armed forces remain vigilant and committed to protecting the nation. He praised the military leadership and saluted their tireless efforts.
As part of austerity measures, federal ministers will waive their salaries for the next two months, while all government departments are instructed to reduce expenses by 20%. Official foreign trips for ministers and government officials have been suspended, along with state dinners and iftar events.
To conserve fuel, government offices will now operate four days a week, keeping three days as holidays, though banks will continue regular operations. Furthermore, 60% of government vehicles will remain idle for two months.
PM Shehbaz also directed authorities to take strict action against those creating artificial shortages of petrol or diesel or indulging in profiteering, warning that legal action would be taken against anyone exploiting the situation.
